Central Banking
US rates surge sparks new wave of FX net investment hedging
Corporates pile into currency hedges to protect value of foreign assets and capture positive carry
BIS economists take aim at crypto industry data
Central banks should consider blockchain stats ‘noisy approximations’ of actual economic activity
Adapting to AI crucial to central banks’ credibility, Panetta says
Bank of Italy governor tells Kyiv conference tech-driven investment will alter inflation
Fear of risk and lack of trust block European investment – blog
Financial literacy is key to savings and investment union, say ECB economists
Kenya publishes draft national payment system policy and law
Payment ecosystem should draw on lessons from India and Brazil, National Treasury says
Canadian households and firms adapting to volatility – Macklem
Country has gone through ‘several stages of grief’ over death of open trade with US, says governor
Populism casts long shadow over central bank policy – NBER paper
Countries with history of monetary financing make extra effort to show anti-inflationary credentials
ECB launches Pontes and prepares to invest in tokenised securities
Bundesbank onboarded as market participant to trade tokenised assets settled in central bank money
Strait of Hormuz is top barometer of supply stress – BIS study
Impact of traffic disruption through other waterways neither as consistent nor as global
Regulatory risk aversion contributed to SVB failure – Bowman
Supervisors ‘knew, or should have known’ about risks a year before bank’s collapse, says Fed vice-chair
UK mortgages out of sync with BoE policy
Average two-year rates for home loans have risen since March, despite BoE’s extended pause
Regulators better prepared for next Credit Suisse, says SRB head
FSB strengthening guidance on international co-operation, but EU needs more mutual support
Venezuela in talks to move gold from London to New York
Any agreement should be accompanied by reforms such as central bank independence, lawyer says
IMF reaches staff-level agreement with Zimbabwe
Country still needs to strengthen governance and restore debt sustainability, fund says
Relying on ECB to fight inflation ‘no longer viable’ – paper
Researchers argue EU should co-ordinate with central bank to tackle ‘shockflation’
BoJ raises rates to 31-year high
Ueda says ‘policy phase has changed’ and focus now is on ensuring inflation does not exceed 2%
Rates cannot blunt trade coercion, Krugman tells ECB conference
Nobel laureate says EU’s fix for external shocks lies in industrial, not monetary, policy
Czech Republic extends pause while Moldova raises rates
CNB leaves door open to rate rise while Moldova presses on with third hike since May
BoE holds rates and reveals talks to sell gilts to Treasury
Economists voice concerns over blurred fiscal and monetary policies
People: Union leader among BoE’s new non-execs
Plus RBNZ assistant governor to leave and Fnality appoints three ex-central bankers
HKMA and PBoC explore ‘enhancements’ to swap line
New five-year plan cements city’s lead role in currency’s internationalisation efforts
Brazil cuts for fifth consecutive time ahead of elections
Fed hike not an ‘outright impediment’ for BCB to continue loosening, economist says
Taiwan holds, with inflation expected to fall next year
Central bank says growth exceeded expectations as AI-driven demand continues
Tokenisation: a load of old bull for London’s financial markets?
Focusing on tech in context of digital transformation risks repeating 1980s Taurus debacle